Responding to The Great Resignation
Undoubtedly, COVID-19 shook the world to its core. The aftershocks continue as employers are now facing what is being called the “Great Resignation.” The Bureau of Labor has reported absolute records of voluntary workplace separations. People are straight-up quitting –handing in their notices in search of brighter stars on the horizon.
The statistics have remained consistent. The Bureau reports that in February of 2022, 4.4 million people left their jobs –an astounding 2.9% of the workforce! No business sector has escaped this mass exodus as white and blue-collar employers have been left reeling.
The lingering question is why?
Certainly, COVID caused an “epiphany” of sorts to sweep the globe as people’s priorities and core values shifted. Moreover, it has leaked into corporate and industrial America as workers now desire different things from their careers.
However, according to a recent survey from Pew Research Center, “low pay, a lack of opportunities for advancement, and feeling disrespected at work are the top reasons Americans quit their jobs last year.”
What Can You Do?
Now is an opportune time to take a closer look at your firm. Maybe this is a perfect time for some self-evaluation and growth? How can you create an environment employees don’t want to leave? Ask yourself the following questions to strengthen your company’s culture and inspire your team members’ loyalty.
Are We Providing Flexibility?
Flexibility has become one of the most significant factors of employee retention. Are you providing flexible scheduling? Do you allow people to maintain a healthy work-life balance? Are people able to work from home when needed? Flexibility is critical to working moms, who are often their children’s primary caregivers and need extra time at home.
Are We Providing Good Leadership?
Good leaders are vital in influencing the culture and tone of any organization. First, do some self-examination of your leadership. Are there areas needing some personal growth? Also, take a look at your management team. Have you placed the right people in positions? Do they lead with compassion and integrity? Often, the relationship with a direct manager or supervisor “makes or breaks” the deal for an employee considering different career options.
Are We Providing Proper Pay and Benefits?
Since 63% of those surveyed listed low pay as a factor in their resignation, it’s a good idea to look at the payroll. Are you offering competitive wages and benefits? Do the salaries appropriately reflect how much you value each team member’s role? Quality health insurance benefits are also a considerable incentive for retention.
Are We Providing Care?
Health and well-being, particularly mental health, is a primary concern for today’s workforce. Does your firm have a mental health consciousness? Encourage your staff to take time for their well-being and provide appropriate support.
Are We Providing Community?
Workplace relationships are one of the biggest reasons people remain with an employer. As such, you must foster community and relationships in your team.
At Robert Joseph Group, we are committed to helping you find the top-tier talent your firm requires. With over 50 years of experience, we bring the highest degrees of professionalism and expertise to the table as we match you with your next hire!